At
last the Nigerian Government has appointed a liquidator to oversee the folding
up and subsequent sale of its defunct National telecommunications carrier NITEL
Previous
attempts to sell the Telecommunications outfit have over the years been
unsuccessful leading to the operations of the company to pack up completely
This
appointment of the liquidator was part of decisions reached at a meeting of the
National Council on Privatization on Thursday at State House, Abuja.
There has been a flurry of meetings this year of
the National Council on Privatisation, this being the fifth, in pursuit of
Government's resolve to divest itself of the responsibiltiy public
companies and at the same time fix some of the past failures as the NITEL case
exemplifies.
Not
for the first time, government proceeded down the path of selling NITEL/MTEL by
appointing a liquidator to carry out the process.
But
this time around the Council aims at achieving a controlled liquidation of the
establishment by ensuring it is sold as a going concern.
Another
process concluded was the next stage in the process of privatizing the Afam
Power Plant and The kaduna Distribution Company with the emergence of preferred
bidders for the companies
The
council also began discussions on the partial privatization of the Bank of
Industry and the Bank of Agriculture in the belief that the sale of shares in
these Government Banks would facilitate their access to funds from national and
international financial institutions.
New on
the plate of the Council at this meeting was the process of privatization of
National parks and National stadia nationwide.
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